High Hope Group(SH:600981) Zheng Quan Zhi Xing·2025-08-01 16:35Core Points - The article outlines the hedging management system of Jiangsu Huihong International Group Co., Ltd, aimed at standardizing hedging operations, enhancing management and supervision, and effectively preventing and controlling risks to ensure the safety of company assets [2][4][22] - The hedging business is defined as transactions using financial derivatives to hedge against specific risks such as price, credit, interest rate, and foreign exchange risks [2][3] - The company emphasizes a prudent approach to hedging, ensuring that transactions are simple, liquid, and risk-recognizable, and prohibits speculative trading [3][4] Summary by Sections General Principles - The hedging business must adhere to principles of prudence, business matching, unified management, and compliance [3][4] - The hedging activities are applicable to the company and its subsidiaries, which must develop detailed implementation rules based on the company's regulations [4][5] Business Qualifications and Organizational Structure - The board of directors authorizes the management to approve the qualifications of the operational entities engaged in hedging activities [5][6] - A dedicated hedging leadership group is established to oversee decision-making and supervision of hedging activities [7][8] Annual Plans and Operational Schemes - The company must create an annual hedging business plan based on previous performance and risk management capabilities, which requires board approval [11][12] - Operational entities must strictly follow the approved annual plan and seek board approval for any necessary adjustments due to significant market changes [16][17] Standard Operations and Risk Control - Hedging activities are subject to strict management, ensuring that different operational entities do not borrow or misuse scale indicators [12][13] - The operational entities must maintain a written authorization management system for trading permissions and ensure that funds used for hedging are self-owned [22][23] Reporting Mechanism and Emergency Response - Operational entities are required to report on hedging activities regularly, including monthly, quarterly, and annual reports detailing positions, strategies, and risk evaluations [30][31] - In case of significant risks or losses, immediate reporting to management is mandated, with detailed follow-up on the situation [34][35] Information Disclosure - The company must comply with relevant regulations for internal reporting and public disclosure of hedging activities, especially when losses exceed specified thresholds [37][38] Supervision and Accountability - The hedging leadership group is responsible for regular supervision and audits of the operational entities to ensure compliance with the hedging management system [40][41] - Strict penalties are outlined for personnel who fail to report or misreport hedging activities, ensuring accountability [41][42]